ASIATODAY.ID, JAKARTA – The 2024 Indonesia International Sustainability Forum (ISF) event closed on Friday, September 6 2024 with a series of commitments related to climate action, where 14 Memorandums of Understanding (MoU) were signed in important areas such as cross-border electricity interconnection, carbon capture, accelerating the energy transition, as well as the green transition in transportation.
This further strengthens Indonesia’s position as a key player in climate change and a leading voice in green growth for developing economies.
Indonesia’s Coordinating Minister for Maritime Affairs and Investment, Luhut B. Pandjaitan, said that the ISF’s strong spirit of collaboration raises hope in overcoming the climate crisis.
“I am very confident that we will be able to maintain the momentum generated in the last two days and turn the ideas we have put forward into meaningful action,” said Luhut.
“We’ve all heard that the energy transition is a complex process, and there are no shortcuts. “Even though we come from diverse backgrounds with different starting points, limitations and challenges, we have the same responsibility and opportunity to contribute to the global sustainability journey,” added Luhut.
Shinta W. Kamdani, Deputy Chair of the Maritime, Investment and Foreign Affairs Coordinator of KADIN Indonesia, said that the ISF 2024 collaborative solution could bridge the sustainable funding gap, thereby enabling the implementation of sustainable business practices, especially in terms of financing.
Apart from that, he said that collaborative solutions from ISF 2024 could bridge the gap in sustainable funding, as well as enable the implementation of sustainable business practices, especially in terms of funding.
“ISF 2024 has proven to be an impactful platform that can turn collaboration into green economic opportunities. “I can’t wait to see ISF’s follow-up actions which will strengthen the joint commitment of the business world as the main driver in mobilizing green funding,” said Shinta.
The following is a list of agreements including Memoranda of Understanding, Statement Letters and Joint Studies signed at ISF 2024:
- Announcement regarding Cross-Border Electricity Interconnection between the Indonesian Government and the Singapore Government.
- Garuda Hydrogen – Hydrogen Purchase Agreement between the State Electricity Company (PLN), PLN Indonesia Power, PT Pupuk Indonesia, and ACWA Power.
- Joint Study on the Potential of Carbon Capture Utilization and Storage (CCUS) between Pertamina and PT Pupuk Indonesia (Persero).
- Joint Study Agreement: Feasibility Study of Carbon Capture, Transportation and Storage with ONWJ Offshore as a Storage Area (JSA CCS Pertamina and POSCO (Korean group)).
- Joint Statement between the Indonesian Chamber of Commerce and Industry (KADIN) and BloombergNEF regarding the Carbon Center of Excellence (CCoE)
- Memorandum of Understanding between KADIN Indonesia and the Supporting Working Team for the National Energy Transition Task Force in the Electricity Sector regarding the Acceleration of Energy Transition and Development of a Low Carbon Economy in the Electricity Sector (KADIN and Rumah Paten).
- Memorandum of Understanding for the development of the Wave Energy Generation Project in Flores Larantuka, East Nusa Tenggara (PLN, Ministry of Public Works and Public Housing, East Nusa Tenggara government, and Tidal Bridge).
- Joint Study on Hydrogen Ecosystem Development to Prepare a PLN Strategy Roadmap between PLN, the Ministry of Energy and Mineral Resources, and HDF Energy Indonesia.
- Launch of the Blue Halo S program between the Indonesian Coordinating Ministry for Maritime Affairs and Investment, KADIN, Ministry of Maritime Affairs and Fisheries, and Indonesian Conservation.
- Memorandum of Understanding between the Deputy for Maritime Resources Coordination of the Ministry of Maritime Affairs and Investment Coordination and the Indonesian Global Compact Network regarding Cooperation for the Development of an International Tropical Algae Research Center.
- Launch of the Climate Transition Impact Framework (C-TIF) and Indonesian Application (CTIF Launch), by the Ministry of Maritime Affairs and Investment and McKinsey.
- Launch of the Indonesia Climate Dialogue by a number of stakeholders including the Indonesia Business Council, Center for Strategic and International Studies (CSIS), Systemiq, and KADIN Indonesia. (AT Network)
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